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Our Bureau

New Delhi, July 6 The Central Board of Excise and Customs (CBEC) will soon form an institutional forum to discuss and debate various issues on services tax inviting participation from trade and industry bodies in view of the large number of clarifications and advisories being sought by the industry.

The forum will help the board and the field formations to strengthen their interface with industry to understand each others’ views, perceptions and problems relating to a host of issues, including administrative changes required and compliance level expected, said Mr P.C. Jha, Member, CBEC. He was speaking at an interactive meeting on services tax organised by the PHD Chamber of Commerce and Industry.

Explaining the rationale of imposition of service tax, Mr Jha said that the contribution of the services sector to the GDP is 54 per cent.

Yet, the current share of services tax to the total collection of taxes from indirect taxes is only nine per cent at Rs 50,000 crore, covering 100 items, and constitutes only one per cent of the GDP.

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